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  1. Bond Guy
    Bond Guy is offline Senior Member
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    Oct 2007
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    What is an Indemnity Bond?

    I have heard the term Indemnity Bond thrown around in the insurance business and I was curious do you know what one actually is? Thanks.
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  2. lifeisgood
    lifeisgood is offline Senior Member
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    Indemnity Bond

    You may have misunderstood the term. An Indemnity agreement is something the surety company requires for all bonds. Bonds are not insurance but more like a line of credit for which the surety wants the principle to personally guarantee.
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  3. Bond Magician
    Bond Magician is offline Senior Member
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    What is an Indemnity Bond?

    Quote Originally Posted by lifeisgood
    You may have misunderstood the term. An Indemnity agreement is something the surety company requires for all bonds. Bonds are not insurance but more like a line of credit for which the surety wants the principle to personally guarantee.

    You mentioned an Indemnity Agreement. What does this agreement cover? What is it for?
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  4. lifeisgood
    lifeisgood is offline Senior Member
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    Indemnity Bond

    An indemnity agreement is used for the owners of a company or sole proprietors to personally indemnify themselves for what ever bond they may have in place.
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